There's been a really strong bullish run for the AUD/USD pair that began on 18/01/2016. Between you and I, I was convinced that the Dollarydoo (AUD) was weak as piss and was headed for 0.65 and below. However, like most analysts at the time, I was wrong… There are many explanations for the rise in the value of AUD/USD, but in reality like always, it was good old...
Ok… So the week ended and our mate USD decided to bounce off a key resistance level. At the same time, a beautiful looking Doji formed, which tells me that the market either has no clue where the next move is at or the bullish trend is about to end and a reversal is about to take place (see chart).
I've said before that “IF price ends the week below this level,...
I have opened a long position at 0.9785 as I expect the market to retest 0.9785, making this level support (was resistance since 17/03/16) and the short-term bullish trend to continue. I’m then looking to ride this pair all the way back to parity.
Read more at 'Trade Forex with Andrew': andrewfx2020.com
About me: Based in Melbourne Australia, I have been...
I seriously can’t work out where this pair is traveling. First we have this massive sell-off from the 90’s and it’s all doom and gloom. Then, price dances around the 70’s level and we now have a very clear short-term bullish bias.
As an Aussie, I see nothing but bad news (and data... aka slowest growth in salaries for 18 years) and poor governance from the...
I am not convinced that a lower high (LH) has been realized. Therefore, I am waiting for price to at least hit the 0.764 level before taking a short.
It's another 60 or so pip's between 0.764 and 0.886 levels. If 0.764 was broken, I would be keen to take another short there.
At this point, Dow Jones is still rising (See chart). Therefore, I have no interest in...
It’s Saturday night here is Melbourne, Australia… The house is quiet, the kids and wife are asleep and I’ve just finished watching the Big Short (9/10 – Highly recommended). Now is the perfect time to analyze the charts.
We have another huge week coming up, and while the focus will be on David Cameron and his mates (GBP trades), let’s not forget that USD and JPY...
We are at a juncture for all JPY pairs that will determine if JPY appreciates or not. As you are already aware, Karuda and his cronies are desperate for the Yen to devalue. However, markets have given Karuda and his cronies the one finger salute.
I’m focusing on USD/JPY because we now are at a point where the market needs to make a decision (for this pair) on...
We are rapidly approaching four (4) key levels, which if broken, will result in a minimum 500 pips waterfall. On the weekly chart, between 12/15/14 and 18/01/16, price bounced off a range of around 50 pips (116.082 - 115.561).
If we break this key level, then It's going to be all downhill from here, until price reaches 110.091 (Higher-high 29/09/14).
A very nice looking Gravestone Doji has formed on the 4-hour chart for GBP/JPY. A few points to note:
A) Daily failed to close above 170.00
B) I expect an ABCD pattern to form. If correct, then the timing of this Gravestone Doji is perfect. The ABCD pattern may start its C/D leg at around the 167.00 level, of which is where the downtrend ended and a great buying...
This is more of a thought, than a trading idea...
There is a rising wedge, of which is about to complete, on $DXY.
This is a bearish pattern, and if I'm correct, its full formation may coincide with the latest USD data that is due to be released on Thursday.
Ever since the $DXY on the 1 hour chart had broken the 200 SMA, I've been trading short JPY. As expected, GBP/JPY has fallen, and now the expected retrace is happening.
I expect price to rise to 185.00 and then for JPY to continue its march forward.
- JPY strengthening
- USD weakening
- Whole Number (185)
- Approaching 200 SMA
- Previous area of...
The AUD has strengthened on the latest HSBC Flash Manufacturing PMI data. However, I think it's a matter of not if, but when this pair will reach parity.
Nice opportunity to grab a few pips here as the overall trend is down.
PS: Let's not forget about the triple top.
An impressive looking bullish gartley pattern is forming on the NZD/JPY 4H chart.
- A/B: Price bounced nicely off .648
- B/C: Price fell pretty quickly at around .882
Finally, it looks like D will hit the mark at around 88.00, of which coincidentally is the .786 mark.
If price falls below .90, then I'm confident that the C/D leg will be completed.
There is an imperfect bullish butterfly pattern forming on the 1 hour EURGBP time-frame. The problem I see is that the AC leg should be closer to .886 and not .617
However, there is an almost perfect bullish ABCD pattern forming as the AC leg has hit 0.618 perfectly and then the price moved south immediately.
A couple more hours of trading and we'll get...
On the one hour time frame an ABCD pattern has just completed. All level almost perfectly align, so I expect the price to fall to at last TP1.
However, I don't believe in anyway that this is a change in trend. I think once we hit TP1, the uptrend will probably continue.
The AUDUSD has been traveling in a narrowly defined channel. Price has hit the base of the channel and will rise to the top.
I expect price to follow this pattern until it hits 0.90. If and when price does reach 0.90, I expect sellers to flood the market and probably the RBA as well.
Please be kind, it's my first post